46] 



ANNUAL REGISTER, 1813. 



of the several acts above specified, 

 and endeavoured to show that the 

 plan proposed was entirely incon- 

 sistent with the spirit of that of 

 1802. He concluded bj' moving, 

 " That a select committee be ap- 

 pointed to take into consideration 

 the acts passed for the more ef- 

 fectual reduction of the national 

 debt, in the 26th, 32nd, and 42nd 

 years of his majesty's reign, and 

 to report to the House whether 

 due regard being had to tlie just 

 claims of the holders of shares in 

 the several public funded securi- 

 ties, purchased subject to the ope- 

 rations of the said acts, any and 

 what part of the monies placed to 

 the account of the commissioners 

 for reducing the national debt, can 

 now be placed at the disposal of 

 parliament." 



The Chancellor of the Exche- 

 quer contended, that on no former 

 occasion of a similar kind had a 

 committee been previously ap- 

 pointed to investigate the details 

 of the subject. He made various 

 remarks to show that his plan in- 

 volved no breach of the public 

 faith, and said that he should dis- 

 sent from the motion. 



After some observations on each 

 side from different members, the 

 Attorney General rose to give a 

 legal opinion as to the effect of the 

 proposed measure on the three acts 

 of parliament referred to, and held 

 that there was not the smallest 

 violation of good faith, or infrac- 

 tion of the law, in its operation. 



The House at length divided; 

 for the motion, 59; against it, 152; 

 majority, 93. 



. The third reading of the bill, 

 the title of which was, " To alter 

 and amend several acts passed in 

 his present majesty's reign, relating 



to the redemption of the national 

 debt ; and for making further pro- 

 vision in respect thereof,'' was 

 moved on April 7th. The debate 

 on this occasion presented nothing 

 new in argument, and the bill 

 passed the House. 



The second reading of this bill 

 in the House of Lords was moved 

 by the earl of Liverpool on April 

 I2th, in a speech which recapitu- 

 lated the substance of that of the 

 Chancellor of the Exchequer. 



The Marquis of Lansdowne ad- 

 vanced some objections, chiefly 

 founded on the injury to the se- 

 curity of the public creditor, which 

 would result from tills measure. He 

 did not mean, however, to give it 

 a pertinacious opposition. 



The Earl of Lauderdale spoke in 

 depreciation of the sinking fund 

 altogether, and declared himself to 

 be one of those who held all plans 

 of finance very cheap, in compa- 

 rison with an effectual plan of pub- 

 lic economy. 



No other proceedings are record- 

 ed concerning it in the House of 

 Lords, and it soon after passed into 

 a law. 



In connection with financial 

 matters, it may be proper to notice 

 the renewal of an attempt to bring 

 in a bill respecting sinecure offices 

 upon the same principles witli that 

 which had been rejected in the 

 last session of parliament. It was 

 moved in the House of Commons 

 on Feb. 12, by Mr. Bankes, who 

 introduced it with some general 

 observations on the nature of the 

 intended measure, for the inform- 

 ation of the new members. Its 

 essence was the gradual abolition 

 of sinecure offices as they should 

 fall vacant, with the provision of 

 a permanent fund for the adequate 



